Fiserv's IPS-Sendero Unit Announces Deal with Arab National Bank

Bank purchases the IPS-Sendero Kamakura Risk Management solution

LONDONâ21 November, 2005âIPS-Sendero, a unit of Fiserv, Inc. (Nasdaq: FISV) and a provider of technology solutions and education for enterprise risk, announced today that Arab National Bank has selected the IPS-Sendero Kamakura Risk Management system (KRM) for its market and treasury portfolio credit risk operations.

The Bank will use IPS-Sendero KRM to measure credit risk in both its current flow and portfolio of collateralized debt obligations. It will also use the IPS-Sendero KRM system to measure market risk and credit-adjusted value-at-risk (VaR).

Yasser Shareef, head of market risk, Arab National Bank, said, "IPS-Sendero KRM has distinguished itself in credit risk modelling with the quality of its research and its full disclosure to clients of its credit risk model performance. We believe that KRM is unique in its ability to produce default correlations for any pair of companies with default probabilities on the system. Shareef added, "Without this pair-wise correlation, credit risk cannot be modelled and measured accurately."

IPS-Sendero KRM is the result of a strategic partnership between IPS-Sendero and Kamakura Corporation for global financial risk management solutions. The combination of IPS-Sendero's market-leading risk client base, global presence, strong client support and financial resources with Kamakura's advanced, integrated risk analytics and thought leadership provides financial organizations with the very best technology, education, consulting and support in the industry.

"Arab National Bank aims to be par with the best global banks in terms of how proactively risk is managed," said Nigel Sirett, managing director EMEA, IPS-Sendero. "IPS-Sendero is honoured to be working with Arab National Bank in the field of risk management. Both organizations will benefit from active collaboration in the framework of risk modelling."

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